[Zancarius]

The problem is that accident events (or events leading to an accident) happen in real time, and the flight recorders record a lot of data from the flight controls and instruments. As others have pointed out in the comments for another story, what happens if their aircraft's orientation occludes the antenna or something breaks off? From what I've read of most accidents, the recorders work quite well and often continue working until cables are severed (in which case satellite communications wouldn't work either), in-flight fires consume the aircraft, etc.

Technology will unlikely replace flight records, which have a proven track record (provided they can be found... but not as many have gone missing as you might think), but it can certainly augment it. I still don't think it's as good a solution to the "real time" problem as having the recorder on board the accident aircraft itself.

Edit: Sibling comment from objclxt incidentally is the same user who illustrated the problems with satellite communications I alluded to. See objclxt's comment history for details.